Wise

The product is an international account and money transfer service that lets users send, receive, hold and convert money in 40+ currencies, get local account details, and spend globally with a debit card, solving high fees and exchange rate markups on overseas transfers. It sells to individual consumers managing money across borders, to startups, scale-ups and other businesses handling international payments and team spending, and to banks, financial institutions and enterprises via a platform. It is positioned as a lower-cost alternative to banks that add markups and hidden fees, offering the mid-market exchange rate with upfront fees and transfers that complete in seconds to hours.

Key features

• Send money internationally
• Send large amounts
• Receive money in multiple currencies
• Hold 40+ currencies
• Get multi-currency debit card
• Spend and withdraw abroad
• Multi-currency accounts
• Issue cards via platform
• Manage team finances
• Connect accounting software
• API integrations
• Receive interest on balances